<\/p>\n Kanye West<\/strong> <\/a>has taken a $36 million loss on his Malibu home, selling it for $21 million just three years after buying it.<\/p>\n The rapper, 47, originally purchased the oceanfront property for $57.3 million in 2021 before gutting it with plans to completely overhaul the home.<\/p>\n California-based real estate crowdfunding firm, Belwood Investments, snapped up the home for the slashed price, The Real Deal<\/i><\/a> first reported on Thursday, August 22.<\/p>\n \u201cWe are incredibly excited about the acquisition of this property,\u201d said Belwood founder and owner Steven \u201cBo\u201d Belmont<\/strong> via a press release.<\/p>\n \u201cThis is not just a phenomenal real estate investment; it is an opportunity to revitalize and preserve an architectural gem by the renowned Tadao Ando<\/strong>, ensuring it remains a jewel of Malibu. This acquisition exemplifies Belwood Investments\u2019 commitment to transforming properties with historical and architectural significance while delivering exceptional returns for our investors.\u201d<\/p>\n The company has been flipping homes since 2018 and is aiming to raise $5 million to restore the house to its original state then resell it for $40 million.<\/p>\n Originally designed by renowned Japanese architect Tadao Ando<\/strong>, the house was controversially stripped down by West<\/a>, who removed the windows, doors and interior finishes, leaving a concrete shell.<\/p>\n The musician was set on redesigning the house before he changed his mind and put the gutted-out home on the market for $53 million in January.<\/p>\n \u00a0<\/p>\n Unable to sell at that number, West drastically dropped the asking price within a few months.<\/p>\n West had teamed up with Selling Sunset<\/i> star Jason Oppenheim<\/strong> in an attempt to shift the four-bedroom, five-bathroom property.<\/a><\/p>\n
\n Kanye West.<\/span> (Photo by Brad Barket\/Getty Images for Fast Company)<\/span><\/figcaption><\/figure>\n![\"Kanye](\"https:\/\/www.usmagazine.com\/wp-content\/uploads\/2024\/08\/kanye-west-sells-maliby-mansion-599438126.jpg?w=1000&quality=86&strip=all\")
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\n Kanye West.<\/span> (Photo by Getty)<\/span><\/figcaption><\/figure>\n